Author: Rigs & Barge World
The government has raised natural gas supply prices for the industrial sector, setting a minimum selling price of no less than $6.50 per million British thermal units (MMBtu) for energy-intensive industries. The measure was enacted under Decree No. 1306 of 2026 issued by Prime Minister Mostafa Madbouly and published in the Egyptian official gazette El‑Waqai’ el‑Misriyya. Accordingly, the cement industry will now be charged $14 per MMBtu, while the price for iron and steel, non-nitrogen fertilizers, and petrochemical industries has been set at $7.75 per MMBtu. All other industrial activities will be charged a rate of $6.75 per MMBtu. The…
The Egyptian Sustainable Aviation Fuel Company (ESAF), a subsidiary of the Egyptian Petrochemicals Holding Company (ECHEM), has signed a technology license agreement with US Honeywell to deploy its Ecofining technology in Egypt’s first project to produce sustainable aviation fuel (SAF). This follows a previous agreement signed in December between ESAF and Honeywell for the establishment of the project in Alexandria. Ecofining is a technology that turns non‑petroleum organic materials into renewable fuels, mainly sustainable aviation fuel (SAF) and renewable diesel. The project is expected to reduce carbon emissions from aviation by around 400,000 tons annually (t/y), maximizing the use of…
Saudi Arabia’s Petro Rabigh has benefitted from the market disruption caused by the Middle East conflict, and achieved its first quarterly profit since 2Q 2022 last quarter. The integrated refinery and petrochemicals complex’s location on the Red Sea, 160km south of Yanbu, means that operations have not been disrupted by the closure of the Strait of Hormuz. Petro Rabigh is a joint venture of Saudi Aramco (60%) and Japanese downstream company Sumitomo Chemical (15%), with 25% listed on the Tadawul exchange. The partners completed a major restructuring of the venture last year in which Aramco acquired 22.5% from Sumitomo as…
Dana Gas, the Middle East’s largest private natural gas firm, has received a final $20m payment from Egypt, fully clearing all outstanding arrears, according to the company’s statement. “We are very encouraged by our progress in Egypt, both operationally and in collections. Importantly, this payment completes the settlement of Dana Gas Egypt’s overdue receivables and brings our receivables position to a full up-to-date status. It is a further demonstration of the Egyptian government’s constructive cooperation and continued commitment to supporting investment in the country’s energy sector,” Richard Hall, Chief Executive Officer, said. The settlement of Dana Gas Egypt’s overdue receivables…
Saudi Arabia’s power demand continues to grow rapidly, driven by strong non-oil GDP growth. Despite disruption caused by the Middle East conflict, the authorities are pressing ahead with projects to expand and strengthen the kingdom’s power sector. Recent weeks have seen a power purchase agreement (PPA) signed for a new 2.3GW gas-fired power plant and a tender launched for 12GWh of battery energy storage capacity (BESS). Saudi Energy (SE: formerly the SEC) operates the national grid, through which around 97% of electricity is distributed. Power sold through the SE grid rose by 8% in 2025 to a record 349.16TWh (see…
Tunisia’s renewable energy ambitions are gaining momentum with the commissioning of a 50MW solar photovoltaic (PV) power plant and the launch of a new tender for 200MW of solar power last month. On 16 April, Norway’s Scatec announced the start of commercial operations at the 50MW (60MWp) Tozeur solar PV power plant in central Tunisia (see map), effective 4 March. (CONTINUED – 790 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials Assess future risks and opportunities Source link
The Ministry of Petroleum and Mineral Resources (MoMR) announced a new natural gas discovery in the Nile Delta, with projected production of 50 million cubic feet per day (mmcf/d) following the drilling of the exploratory well (Nidoco N-2) in the West Abu Madi area, co-operated by Italy’s Eni and the UK’s British Petroleum (bp). Karim Badawi, Minister of Petroleum and Mineral Resources, inspected the EDC 56 drilling rig, which executed operations on the well. Nidoco N-2, situated approximately 3 km offshore in shallow waters (depth of ~10m), was drilled from an onshore location utilizing advanced Directional Drilling (ERD) technologies. This strategic…
Outstanding arrears to International Oil Companies (IOCs) currently stand at $770 million, down from $6.1 billion in June 2024, and are scheduled to be fully repaid by June, according to Karim Badawi, Minister of Petroleum and Mineral Resources. Speaking at the Mediterranean and Red Sea Resource Exploration Summit in the New Administrative Capital, he stressed that the Ministry of Petroleum and Mineral Resources (MoPMR) is prioritizing the settlement of IOCs dues to boost investor confidence and accelerate upstream activities. Badawi emphasised that achieving zero arrears is a cornerstone of the ministry’s strategy to incentivize drilling and exploration, which also includes…
After drilling Libya’s much-anticipated first deepwater well, Italy’s Eni has declared the results “non-commercial,” it confirmed in the firm’s 1Q 2026 earnings call. Eni and partner BP began drilling the A1-38/3 well– known as the Matsola prospect – on Block 38 in January. The asset is offshore the country’s Sirte basin oil and gas heartland (see map & MEES, 23 January). (CONTINUED – 301 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials Assess future risks and opportunities Source link
The Cabinet approved a series of amendments to the country’s mining regulations, tightening licensing procedures, setting new rules for state participation in mining ventures, and introducing oversight measures for geological testing laboratories. The decision, made during the Cabinet’s 90th meeting chaired by Prime Minister Moustafa Madbouly, amends parts of the executive regulations of the Mineral Resources Law, issued under Prime Ministerial Decree No. 108 of 2020. The regulation applies to all licenses issued by the competent authority for the exploration and exploitation of raw materials from mines, quarries, and salt mines. Furthermore, the provisions govern the licensing of laboratories that…